Americans are rarely this pessimistic about the economy.
Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday, the second-lowest reading on records going back to 1952. April’s reading was lower than anything seen during the Great Recession.
Larry Fink, chief executive of BlackRock, the world’s largest asset manager, said Friday that today’s dense fog of uncertainty, triggered by Trump’s tariffs, is reminiscent of the 2008 global financial crisis.
“We’ve seen periods like this before when there were large, structural shifts in policy and markets — like the financial crisis, Covid-19 and surging inflation in 2022. We always stayed connected with clients, and some of BlackRock’s biggest leaps in growth followed,” Fink said.
We’ve seen periods like this before, Larry Fink, because scumbags like you have purposefully and wrecklessly fucked over the middle class and poor in a class war by exploiting a manufactured crisis like the 2008 crash, or exploiting a pre-existing crisis like Covid in order to enrich people like yourselves.
Fuck you Larry Fink.
I mean his name is literally Fink.
fink
noun
an unpleasant or contemptible person.
Sometimes I feel like reality is just fucking with me.
The index is normalized to have a value of 100 in the first quarter of 1966.
https://en.m.wikipedia.org/wiki/University_of_Michigan_Consumer_Sentiment_Index
I don’t know about you all, but in this age of unprecedented economic stability, I’m making lots of expensive, long-term purchases and investments! I’m sure every business is doing the same!
/s
